Latest news with #MaeilBusiness
Int'l Business Times
a day ago
- Business
- Int'l Business Times
Crypto Market in Freefall After Israel's Strikes on Iran: Over $1 Billion Liquidated
On October 13, local time, Israel launched a preemptive attack on Iranian nuclear facilities. The operation, which included airstrikes on dozens of Iranian sites, plunged the Middle East into turmoil, causing a ripple effect across financial markets. The situation precipitated a downturn in major markets, notably the cryptocurrency sector. Bitcoin witnessed a dramatic fall, dropping below $103,000 as the news of Israel's airstrikes on Iran emerged. The cryptocurrency market as a whole felt the impact of the escalating geopolitical tensions, experiencing a meltdown as a result. Benzinga reported that Bitcoin exhibited a decline, plunging more than 7% over three days and settling at approximately $103,200 on the same day. The broader financial markets also reacted to these developments. Asian stock markets opened with declines, continuing the downward trend seen in stock futures overnight Thursday. Futures on major indices, including the Dow Jones Industrial Average and the S&P 500, showed losses. Dow Jones Futures tumbled 570 points, a decline of 1.33%, while S&P 500 index futures fell by 1.8%, and bottomed by 1.43% shortly after the news of the bombings was announced. Volatility in the financial markets extended to the cryptocurrency domain, where over $1 billion was liquidated in 24 hours, with $1.04 billion coming from long positions. The derivative markets were impacted negatively as well, with Bitcoin's Open Interest dropping by 5.69%. Meanwhile, Ethereum's value decreased more than Bitcoin's, with a drop of over 9% in 24 hours, hitting below $2,550. Dogecoin and Solana were also notably affected; Dogecoin fell by over 4%, while Solana experienced a sharper descent of 10.35%, amid the ongoing geopolitical tensions. The geopolitical landscape remained tense, as Israel's Defense Minister, Israel Katz, indicated that retaliatory strikes on Israel were expected. The Cryptocurrency Fear & Greed Index showed a decrease in market sentiment, with the "Greed" sentiment plunging from 71 to 61 over 24 hours. "The change reflects increasing global economic uncertainty amid the turmoil in the Middle East,". Maeil Business reported that Israel confirmed the completion of the first phase of its operation, named Nation of Lions. The operation was set to continue over the following days, further influencing market behavior and exacerbating the instability seen in cryptocurrencies. Reports from Reuters and other foreign media confirmed loud explosions northeast of Tehran, indicating military activity in the region. Ripple (XRP) also saw a downturn, dropping 6.60% to $2.13, while funds locked in Ethereum's outstanding contracts fell by more than 13%, affecting digital assets. Notably, Nasdaq 100 Futures have likewise suffered from the geopolitical developments, losing 1.44%, according to Benzinga. As the Middle East situation evolved, markets worldwide were bracing for continued volatility. Analysts and investors closely monitored the unfolding events as these geopolitical tensions continued to drive market reactions globally, underscoring the interconnectedness of global financial systems and the sensitivity of digital currency markets to geopolitical events.
Miami Herald
2 days ago
- Automotive
- Miami Herald
Kia Telluride May Add Game-Changing 600-Mile EREV Option
The Kia Telluride and Hyundai Palisade have been two of the most respected and successful three-row crossovers since they launched a couple of years ago. The Palisade came first, which is why it's the first of the two to receive a second generation. However, Hyundai and Kia often develop related models in unison, and the all-new Telluride won't be far behind. According to a report by the South Korean newspaper Maeil Business, the next Telluride could have a bold new Extended Range Electric Vehicle (EREV) powertrain, which could be a game-changer for the segment. Kia is said to be evaluating this powertrain for its three-row SUV. Announced by Kia earlier this year at the 2025 Kia CEO Investor Day, the EREV powertrain features electric motors that power the wheels. There is also a gas engine - in this case, a 2.5-liter four-cylinder - but it's used exclusively as a generator to recharge the batteries. This allows the vehicle to function as a normal EV for the most part, while the gas engine completely eliminates range anxiety by keeping the batteries charged. In fact, a range of over 600 miles is possible with this setup, which far surpasses the maximum range of today's modern EVs. For instance, the current Kia EV9 three-row electric SUV can only manage up to 304 miles on a full charge. According to the report, the EREV system is said to be under consideration for the next Telluride, which would complement the more conventional hybrid that's also expected for the next Telluride. We already know the new Palisade is available with a 329-horsepower powertrain, and since the two SUVs have always been closely related, we expect the same powertrain in the new Telluride. The potential combination of a gas model, a new hybrid, and an EREV for the next Telluride would represent the most diverse range of powertrains in a single three-row SUV model. Kia's future EREV would not be the first powertrain of its kind. The discontinued BMW i3 REx had a gas range extender powertrain to increase range, while a more modern example is the Ram 1500 Ramcharger, which has a targeted range of 690 miles, thanks to its 3.6-liter V6 that acts as a generator. However, a possible Kia Telluride EREV would be one of the first SUVs and three-row models to incorporate such a powertrain. Performance and powertrains aside, the next Kia Telluride has already been spied. The details remain hidden, but we expect a boxier look than the current model and visual cues that are shared with the futuristic EV9. We expect the new Telluride to be unveiled before the end of 2025. Hopefully, Kia will confirm the possibility of the EREV powertrain as an option by then. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
New Straits Times
22-04-2025
- Business
- New Straits Times
South Korea's acting president Han expects positive outcome from US trade talk
SEOUL: South Korea's acting president Han Duck-soo expects this week's trade talks with the United States to pave the way for a mutually beneficial outcome, he said during a cabinet meeting on Tuesday. US President Donald Trump imposed reciprocal tariffs of 25 per cent on imports of goods from South Korea earlier this month, which have been paused for 90 days. Tariffs on the auto and steel sectors remain at 25 per cent. The meeting was scheduled at the request of the US, Han said, and will be held in Washington on April 24. Speaking to reporters ahead of his departure for Washington on Tuesday, Finance Minister Choi Sang-mok said that he aimed to return after "opening the door" to discussions that would strengthen the South Korea-US alliance. Industry Minister Ahn Duk-geun will also attend the joint meeting with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer. Talks are expected to cover reciprocal tariff exemptions or reductions, plus duties on cars and steel, the industry ministry said in a statement on Tuesday. It said separately that a specific agenda was being coordinated with the US and has yet to be confirmed. South Korea's Maeil Business newspaper has reported that the two sides could discuss Seoul joining US efforts to curb trade with China, without citing a clear source. China on Monday accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the US at its expense. Han said on Monday that the consultation process with the US "may not be easy". Trump has previously said that sharing the cost of keeping US troops in South Korea would be part of "one-stop shopping" negotiations with Seoul which South Korean officials have said is not up for negotiation. However, they have said cooperation on shipbuilding is a "very important card" the country holds and that participation in an Alaska gas project could be part of the trade package. Han "signalled a willingness, depending on the issues, to reopen a cost-sharing deal" in a recent interview with the Financial Times, after the finance minister told lawmakers last week that defence costs were not up for negotiation.
AsiaOne
22-04-2025
- Business
- AsiaOne
South Korea's acting president Han expects positive outcome from US trade talks
SEOUL — South Korea's acting president Han Duck-soo expects this week's trade talks with the United States to pave the way for a mutually beneficial outcome, he said during a cabinet meeting on Tuesday (April 22). US President Donald Trump imposed reciprocal tariffs of 25 per cent on imports of goods from South Korea earlier this month, which have been paused for 90 days. Tariffs on the auto and steel sectors remain at 25 per cent. The meeting was scheduled at the request of the US, Han said, and will be held in Washington on April 24. Speaking to reporters ahead of his departure for Washington on Tuesday, Finance Minister Choi Sang-mok said that he aimed to return after "opening the door" to discussions that would strengthen the South Korea-US alliance. Industry Minister Ahn Duk-geun will also attend the joint meeting with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer. Talks are expected to cover reciprocal tariff exemptions or reductions, plus duties on cars and steel, the industry ministry said in a statement on Tuesday. It said separately that a specific agenda was being coordinated with the US and has yet to be confirmed. South Korea's Maeil Business newspaper has reported that the two sides could discuss Seoul joining US efforts to curb trade with China, without citing a clear source. China on Monday accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the US at its expense. Han said on Monday that the consultation process with the US "may not be easy". Trump has previously said that sharing the cost of keeping US troops in South Korea would be part of "one-stop shopping" negotiations with Seoul which South Korean officials have said is not up for negotiation. However, they have said co-operation on shipbuilding is a "very important card" the country holds and that participation in an Alaska gas project could be part of the trade package. Han "signalled a willingness, depending on the issues, to reopen a cost-sharing deal" in a recent interview with the Financial Times, after the finance minister told lawmakers last week that defence costs were not up for negotiation. [[nid:716351]]
AsiaOne
22-04-2025
- Business
- AsiaOne
South Korea's acting president Han expects positive outcome from US trade talks, World News
SEOUL — South Korea's acting president Han Duck-soo expects this week's trade talks with the United States to pave the way for a mutually beneficial outcome, he said during a cabinet meeting on Tuesday (April 22). US President Donald Trump imposed reciprocal tariffs of 25 per cent on imports of goods from South Korea earlier this month, which have been paused for 90 days. Tariffs on the auto and steel sectors remain at 25 per cent. The meeting was scheduled at the request of the US, Han said, and will be held in Washington on April 24. Speaking to reporters ahead of his departure for Washington on Tuesday, Finance Minister Choi Sang-mok said that he aimed to return after "opening the door" to discussions that would strengthen the South Korea-US alliance. Industry Minister Ahn Duk-geun will also attend the joint meeting with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer. Talks are expected to cover reciprocal tariff exemptions or reductions, plus duties on cars and steel, the industry ministry said in a statement on Tuesday. It said separately that a specific agenda was being coordinated with the US and has yet to be confirmed. South Korea's Maeil Business newspaper has reported that the two sides could discuss Seoul joining US efforts to curb trade with China, without citing a clear source. China on Monday accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the US at its expense. Han said on Monday that the consultation process with the US "may not be easy". Trump has previously said that sharing the cost of keeping US troops in South Korea would be part of "one-stop shopping" negotiations with Seoul which South Korean officials have said is not up for negotiation. However, they have said co-operation on shipbuilding is a "very important card" the country holds and that participation in an Alaska gas project could be part of the trade package. Han "signalled a willingness, depending on the issues, to reopen a cost-sharing deal" in a recent interview with the Financial Times, after the finance minister told lawmakers last week that defence costs were not up for negotiation. [[nid:716351]]
